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China Dynavolt Power Acquires 80% Stake in TaiYing Electric Vehicle
Mar 9, 2016 11:36Source:SMM
China’s Guangdong Dynavolt Power Technology bought 80% stake in Taizhou TaiYing Electric Vehicle Co. on March 8, 2016
SHANGHAI, Mar. 9 (SMM) – China’s Guangdong Dynavolt Power Technology Co. bought 80% stake in Taizhou TaiYing Electric Vehicle Co. on March 8, 2016, www.cninfo.com.cn reported.
The two companies entered share transfer agreement on March 8, which says Dynavolt Power acquire 80% stake in Taizhou TaiYing Electric Vehicle Co. for 60 million yuan ($ 9.2 million). Of the money, a total of 37.5 million yuan is used to purchase 50% stake from Cai Kuan and the remaining 22.5 million yuan is used to buy 30% stake from Ying Xiujun, the media added.
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